Buzz Lightyear, the Toons and Prince Alwaleed Bin Talal, the Saudi investor, are coming to the rescue of debt-stricken Euro Disney, which has announced a €240 million programme of new rides.

The theme park has announced the opening next year of the Buzz Lightyear Laser Blast attraction, based around one of the star characters of the animated film Toy Story.

"In this interactive ride-through attraction, guests journey to infinity and beyond to help Buzz Lightyear defend the universe against the evil Emperor Zurg," Euro Disney said.

In 2007, the park will launch a Toon Studios attraction allowing visitors to "experience the magical workings of Disney animated films from an insider's point of view".

The expansion programme, which follows the launch of a Lion King attraction last year and the closure of the Visionarium ride has been designed as part of a plan to attract fresh customers to the Paris-based site.

"The plan is based on the company's growth strategy of increasing market penetration of first-time visitors – those Europeans who are interested in visiting but have not done so yet," the company said.

Andre Lacroix, the Euro Disney chairman and chief executive, said: "We aim further to increase our family entertainment offering and attendance, thereby growing revenues throughout the resort."

However, the programme has depended on €1 billion in support from the Walt Disney Company, the park's largest shareholder, which has waived royalty fees, debt relief and credit lines, and signed up to a €250 million rights issue.

Euro Disney said today that Prince Alwaleed, its second largest shareholder, had agreed to subscribe to €25 million of rights issue stock.

Today's announcements came as Euro Disney reported record €68.9 million revenues for the last three months of 2004, 3 per cent higher than the a year before.

The increase was driven by theme park takings and land sales. However, takings at the resort's hotels slid by 6 per cent to €96.5 million as the number of guests, and spending per head, fell.

The company, which reported a net loss of €145.2 million for the year to end of September, made no mention of profits in the latest quarter.

Euro Disney shares stood €0.04, or 16 per cent, higher at €0.29 in afternoon trade in Paris.

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